For the day ahead
Ethereum would need to move through the $396.77 pivot to support a run at the first major resistance level at $402.54.
Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.
Barring an extended crypto rally, the first major resistance level should cap any upside.
Failure to move through the $396.77 pivot would bring the first major support level at $389.51 into play.
Barring an extended sell-off, however, Ethereum should continue to steer clear of the second major support level at $383.74.
Looking at the Technical Indicators
First Major Support Level: $389.51
Pivot Level: $396.77
First Major Resistance Level: $402.54
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rose by 0.19% on Thursday. Following on from a 0.38% gain on Wednesday, Ripple’s XRP ended the day at $0.30296.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.29712 before finding support.
Steering clear of the first major support level at $0.2929, Ripple’s XRP rose to a mid-afternoon intraday high $0.3112.
Ripple’s XRP broke through the first major resistance level at $0.3099 before falling back to sub-$0.30 levels.
Finding late support, Ripple’s XRP moved back through to $0.3029 levels to deliver the upside on the day.
At the time of writing, Ripple’s XRP was down by 0.18% to $0.3024. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.30303 to a low $0.30171.
Ripple’s XRP left the major support and resistance levels untested early on.
